EYES ON….THIS WEEKS INVESTMENTS IN NEWARK!!

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Here is this weeks round up of new properties for sale in NG24, up to a value of £150,000.

As ever, here’s a quick reference guide to what is on offer, for how much and what you can expect as an investor.

Address: 6 Village Way, Farndon, Newark, NG24 4SX
Type: 2 Bed semi-detached bungalow
Asking Price: £148,950
Estate Agent: Richard Watkinson
Condition: Ready to rent
Rent Range: £575-625pcm
Yield: 5%
Comments: Located in a sought after village tucked away in a quiet cul-de-sac, this bungalow is on a generous plot with a garage, off street parking and a sun room in the garden, ideal for an older couple as everything is on one level and it’s a short distance to the A46 and A1. Number 8 sold in Aug 2016 for £138,000 with a conservatory and modern decor, so either they got a bargain or this property is slightly overpriced?

Address: 60 Eton Avenue, Newark, NG24 4JF
Type: 3 Bedroom semi-detached
Asking Price: £140,000
Estate Agent: Now Homes
Condition: Ready to Rent
Rent Range: £625-675pcm
Yield: 5.8%
Comments: Eton Avenue is within Hawtonville, a short distance from William Gladstone CofE Primary School and the new active4today leisure centre, the size and location of this property makes it ideal for families big and small. It’s being loving refurbished to very good standard so there wouldn’t be any modernisation required and someone could move straight in; as for the price, number 52 sold in Sep 2016 for same amount and it had also been refurbished throughout, and this property has an additional utility room, sun room and work room so it’s extremely hard to pick fault with the asking price.

Address: 26 Witham Close, Newark, NG24 2HD
Type: 3 Bed semi-detached
Asking Price: £145,000
Estate Agent: Martin and Co
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 4.96%
Comments: This property is tucked away in a quiet cul-de-sec off Strawberry Hall Lane, it’s a good spot for the A1, town centre and both train station which are all a short distance away. It needs very little doing to it, if anything, and as for the price it’s hard to judge as properties don’t sell in this area very often; the last 3 bed semi sold for £121,500 in July last year and prior to that was £125,000 July 2015 but both were dated in comparison to this one.

Buttercross Best Buy

Address: 62 Cranmer Road, Newark, NG24 4ET
Type: 3 Bed semi-detached
Asking Price: £134,950
Estate Agent: Now Homes
Condition: Ready to Rent
Rent Range: £600-650pcm
Yield: 5.7%
Comments: This house is just a couple of streets away from Eton Avenue and has also been renovated to a very high standard, the current owners purchased the house in October 2015 for £102,500 but you can certainly see where the money has been spent. It is slightly smaller than Eton Avenue and doesn’t have the additional utility room which is very popular with families; nothing else on the street has sold for anything close to this value as the last several sales have been on terraced houses for less than £80,000. Based on what’s on the market at the minute the property is priced highly for the area however the maintenance costs would be low due and the recent refurbishment certainly has the wow factor, knowing what the current owners paid for it, it never hurts to make an offer!

Address: 75 Grove Street, New Balderton, Newark, NG24 3AS
Type: 3 Bed mid-terrace
Asking Price: £124,950
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.7%
Comments: Balderton is popular area for couples an families, it’s a short distance to the A1 and there are two good schools within walking distance. This property has been refurbished to a high standard with 2 double bedrooms, an en-suite off the master room and a striking red and white kitchen, it would require little maintenance and could be marketed as soon as you have the keys. The last 3 bed that was sold on the street was refurbished to very high standard for £120,000 in May 2016 so do you think it’s worth the extra £5k?

Address: 23 Hatton Gardens, Newark, NG24 4BU
Type: 3 Bed mid-terrace
Asking Price: £119,950
Estate Agent: CPG Property
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.5%
Comments: This house has been finished to an impressive standard with a great modern kitchen, light and bright living spaces and has a good sized rear garden, it was bought by the current owners in 2013 for £100,000 however another 3 bed terrace hasn’t been bought since. The most recent purchase on the street was an extended 2 bed, number 45, in Nov 2016 for £115,000 so even though it doesn’t appear that the current owners have added anything to the property, i think they’ve managed to make money on it regardless!

Address: 42 The Ivies, Farndon Road, Newark, NG24 4SR
Type: 2 Bed semi-detached
Asking Price: £137,500
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5%
Comments: Good location for commuters and just a short drive to St Peter’s Crosskeys CofE Academy and William Gladstone CofE Primary School making it ideal for small families and couples alike. This property requires very little work and has a nice addition of a driveway and a garage, the last 2 bed semi on the street was number 8 which sold in Feb 2016 for £127,500 and is currently to let for £575pcm making 5.4% yield, honestly though, i just question whether you get much property for your money?

Address: 14 Wright Street, Newark, NG24 1PJ
Type: 2 Bed mid-terrace
Asking Price: £99,950
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £450-500pcm
Yield: 6%
Comments: In the last 2 years, 5 properties have sold on this street ranging from £83,000 to £99,950 with small differences in each one; the last one sold in Jan 2016 for £94,000 in a very similar condition so there could be some room for negotiation. It’s just a stones throw away from the very desirable Barnby Road Primary School with just a 15 minute walk into town and less than a mile to Newark North Gate, this little house would be perfect for a couple or a small family and it’s ready for them to move straight in to!

If you’ve seen a property in Newark or Nottinghamshire and would like a detailed report on it’s investment potential, call us on 01636 343014, or better still pop in for a chat and a cuppa.

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